Last Updated on April 29, 2020 by Gopal Gidwani
Various phases come and go in a woman’s life, but giving birth to a baby is one of the most special feelings in the world. The journey has its ups and down, and they go through pain and health issues during the pregnancy phase. But all of these challenges are definitely worth it in the end.
For all women, motherhood is a very special and sensitive topic. They would do anything to protect their child. However, with age, it may get challenging to cope with pregnancy as there may be chances of pregnancy-related complications. Another challenge you might face can be the financial one if you remain unprepared. But you need not worry even about that, as insurance companies have your back in such situations. You can opt for health insurance plans with maternity cover and be rest assured.
Let us get into details of the same and explore some interesting facts.
About Maternity insurance cover
If you purchase maternity insurance cover, all your expenses during the process of childbirth get covered up to a specific period and for a specific amount, subject to policy terms and conditions.
Waiting period for maternity insurance
If you want to avail of the maternity coverage, you shouldn’t delay in doing so. The reason being, there is a waiting period to be served before availing maternity insurance benefits. You must wait for a specific period before you get to enjoy the benefits of this cover.
Considering pregnancy as a pre-existing condition
Insurance companies will not offer you a health insurance with maternity cover for the existing pregnancy, if you are already pregnant. They will consider the existing pregnancy as a pre-existing condition. Therefore, make sure to check the same before buying.
Coverage received under maternity insurance
If you avail of this particular cover, all the expenses associated with maternity, up to a specific predefined limit are covered for the baby’s delivery. Both types of deliveries; normal and caesarian (C-section) are covered. A few insurance policies might even include the legal termination cost in case of complications. Some insurance providers also offer pre as well as post-natal expenses as well as newborn baby cover for an additional cost.
How is maternity insurance premium calculated?
The premium amount to be paid is mostly higher for insurance plans with maternity cover as compared to the regular health insurance plans. Therefore, if you’re planning to include maternity cover, you must first do a cost-benefit analysis in detail between various plans provided by different insurance providers.
Note that, as years pass by and you grow old, the maternity insurance premium will increase. Also, the expenses related to pregnancy are escalating each day. To make sure that you’re availing an affordable plan and receive a maximum number of benefits, you must purchase the plan as soon as possible.
People assume that having a family health insurance plan is enough, even to cover maternity benefits. Therefore, it is necessary to always do your research well and understand the scope of coverage in your insurance policy.